It doesn’t sound like the US and EU make a quick deal on trade that will drop the 50% tariffs that Trump recommended today and to go into effect on June 1.
- The US is fully engaged and committed to securing a deal that works for both
- EU commission remains ready to work in good faith
- EU-US trade is unmatched and must be guided by mutual respect
It’s tough to tell which way this is going to go but at least Sefcovic didn’t go full-China style and announce immediate retaliatory tariffs — though there’s an argument that’s the optimal strategy.
This article was written by Adam Button at www.forexlive.com.
